SENIOR MANAGERS & CERTIFICATION REGIME – WHAT IT MEANS FOR YOU

A buffet lunch will be available from 12 noon, with the session starting at 12.30 for an hour.

Tales of Fred “the Shred” Goodwin and other senior bankers who led some of the world’s largest financial institutions to the brink of collapse or beyond in 2008 and the struggles of governments and regulators to bring these people to account are well known.

“Never again” was the refrain that echoed down the corridors of power and in the press in the weeks, months and years that followed. The introduction of the Senior Managers & Certification Regime (“the SMCR”) in 2016 was the UK’s solution. The SMCR introduced a range of measures that increased individual accountability amongst those in senior positions at “systemically important” financial institutions.

Even before the SMCR had “gone live”, the Treasury announced its intention to extend the regime to cover all regulated firms from (early) 2018. On 4 May 2016, with the Bank of England and Financial Services Act receiving Royal Assent, this intention became concrete.

Whilst the final details of the extended SMCR are still to be confirmed, based on experience of those already subject to the regime, now is the time for management in all regulated firms to get themselves and their firms match fit and ready for the new regime when it hits in 2018. This seminar is intended to identify some of the preparatory steps that can be taken now to help firms do this.

By the end of this seminar participants should:

• Have a better understanding of the SMCR, its history and its purpose;

• Understand what the extended SMCR is likely to mean in practice; and

• Leave with a clearer idea of preparatory steps to be taken now.

The Nottingham Insurance Institute charges for non-attendance at all CPD events. If you do find that you are unable to attend, we ask that you give us at least 4 working days notice that you are no longer able to attend.
Please note, if you fail to let us know before this deadline, we will need to charge a £30.00 (inc. VAT) non-attendance fee to cover the cost of catering, booking arrangements and denial of your place to other members.
All cancellations must be received by email and you will receive confirmation of your cancellation. You may also nominate a replacement if you are unable to attend. By proceeding with the registration you agree to these terms and conditions.

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